UNITED STATES

Oil slips on weak recovery signs

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Oil shed over 30 cents to near $78.50 on Wednesday as investors fretted over signs of weakness in any global recovery and waited for U.S. figures later for clearer indications on crude inventories and imports.
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BOJ Yamaguchi says ready to act as deflation weighs

Bank of Japan Deputy Governor Hirohide Yamaguchi said the central bank was ready to act to beat deflation, leaving room for more monetary easing amid a steady drumbeat of government pressure for BOJ steps to support the economy.
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Stock futures edge higher as Bernanke awaited

U.S. stock index futures pointed slightly higher on Wednesday as investors awaited congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.
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Karzai criticized over Afghan poll watchdog move

Afghanistan's main opposition on Wednesday criticized President Hamid Karzai's removal of foreign observers from a U.N.-backed electoral watchdog as autocratic and urged international pressure to ensure impartial elections.
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Supreme Court: Companies are based where execs are

The U.S. Supreme Court said a corporation's principal place of business is where its top executives work, typically at the corporate headquarters, rather than where its products or services are sold.
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Futures point higher; focus on Bernanke

U.S. stock index futures pointed higher on Wednesday as investors awaited congressional testimony from Federal Reserve Chairman Ben Bernanke for clues to the U.S. central bank's thinking on the economy.
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Democrats: Say Goodbye to Wall Street?

U.S. banks and investment firms transferred their political contributions to Republicans in 2009 as Democrats in Washington put the focus on big bonuses, huge profits and tight lending, The Washington Post reported on Wednesday.
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Google faces EU scrutiny after complaints

European Union antitrust regulators are looking into complaints filed by three online companies against Google that may lead to a formal investigation into the search-engine giant's business practices.
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Hyundai recalls new Sonata due to lock faults

Hyundai Motor will recall 47,000 of its new Sonata sedans to fix faulty door latches, seeking to avoid the damaging criticism Japanese rival Toyota Motor Corp faces for its handling of a series of safety problems.
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Asia shares fall on U.S. jitters, Bernanke eyed

Asia shares fell on Wednesday as surprise declines in U.S. consumer confidence and German business sentiment fueled fears about the strength of the global economic recovery and boosted the safe-haven yen.
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Toyota chief faces grilling by U.S. congress

Toyota Motor Corp's president braced for tough questions from a U.S. congressional panel on Wednesday after the Japanese automaker conceded it had let safety standards slip and could still not explain most incidents of unintended acceleration.
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Toyota chief faces congress spotlight

Toyota Motor Corp's president braced for tough questions from a congressional panel on Wednesday after the Japanese automaker conceded it had let safety standards slip and could still not explain most incidents of unintended acceleration.
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Hyundai halts U.S. sales of 2011 Sonata; shares drop

South Korea's Hyundai Motor has stopped U.S. sales of its 2011 Sonata sedan due to door lock issues, sending its shares down more than 4 percent on concerns it could become snared in a damaging recall crisis like Japanese rival Toyota Motor Corp.
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Cuomo, Oppenheimer settle over auction-rate debt

New York Attorney General Andrew Cuomo on Tuesday said Oppenheimer & Co will restore $31 million to the accounts of customers who were stuck owning auction-rate securities that became illiquid.
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Nearly 7000 authors opt out of Google's book plan

Over 6500 authors have asked to be excluded from the digital books agreement that Google reached with the publishing industry bestselling authors Jeffrey Archer and Louis de Bernières and critical favorites Thomas Pynchon, Zadie Smith.

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